Molex sinks following downgrade from CSFB

MichaelBaron

Molex
molx
is tumbling $2.90, or 10 percent, to $25.79, after Credit Suisse First Boston lowered its rating on shares of the Lisle, Ill., maker of interconnection technology products to "underperform" from "outperform" and set a 12-month price target of $21. The firm cited valuation concerns, and the prospect that December quarterly projections could be too aggressive in light of recent channel checks for the downgrade.

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